Our round-up of the top five crypto wallets for all crypto trading experience levels.
As the crypto sector relentlessly moves towards gaining mainstream adoption, it is very crucial to ensure that we have proper and secure storage for our cryptocurrencies and tokens. With crypto wallets, transactions become faster, easier and more secure.
There is an array of choices when it comes to choosing a cryptocurrency wallet; however, not all of these options are created equal. That’s why, we have come up with a list of the best and most reliable crypto wallets for you to choose from.
Coinbase wallet is a secure and user-friendly cryptocurrency wallet that can store over 100 types of cryptocurrencies, including Bitcoins and major altcoins, such as Ethereum, Litecoin, Bitcoin Cash, etc. In addition to being beginner-friendly with a great design interface, Coinbase has multiple features, such as transaction history tracking, QR code support and PIN protection. The app is free to use and can be used on your mobile or desktop.
Another free-of-cost option, Exodus, is a beginner-friendly wallet that can be used on your desktop or via a mobile app. You can access and store over 150 cryptocurrencies in the wallet. The app offers 24/7 customer service, which is ideal for people who are just beginning their foray into cryptocurrency trading. Additionally, there is a ShapeShift feature that enables users to exchange cryptocurrencies. It is a closed source wallet, which means that its code cannot be seen by everybody, as it might pose a security risk to users.
MetaMask is a popular wallet for those who trade Ether and altcoins. The wallet operates as an extension on your browser and lets you run Ethereum Dapps. Dapps refer to decentralized applications that run on the Ethereum network. Because MetaMask is an extension, it will add a lot of convenience to your trading experience since you won’t have to switch between tabs when switching from web browsing to crypto trading. It charges a service fee of 0.875% when you use the wallet to pay for any fees on the Ethereum network. You can also use it as an app or with a hardware wallet, such as KeepKey or Ledger Nano X.
Ledger Nano X
Ledger Nano X is a cold storage wallet. That refers to a wallet which stores your cryptocurrencies offline. This reduces your chance of being hacked because the currency is not stored online. The USB wallet has a sleek design that enables users to carry it around without much hassle. You can connect it with other wallets easily via a USB cable, which allows you to trade currencies seamlessly across platforms. Furthermore, you can manage up to 25 cryptocurrencies on it. It costs about US$119.
Electrum is a more advanced cryptocurrency wallet that can store an infinite number of Bitcoins. It is an open-source wallet and provides security for recovering or importing keys from other wallets, and it offers instant fee-less transactions. In addition to being available as a software download, Electrum has a web version that enables users to trade currencies without downloading the entire blockchain on their device. However, Electrum is a dedicated Bitcoin wallet, and you cannot trade or store any other cryptocurrencies.
When choosing the right crypto wallet, factor in the cost, security, customer support and your level of experience with trading to ensure maximum safety and convenience. After all, given the volatility that accompanies cryptocurrencies, you need a wallet that is reliable and easy to use.
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